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Daily Forex Forecast

Tue, Aug 12 2008, 07:52 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS
• 
  FXDREAM EUR/USD
  Date: Tue, 12 August 2008 07:30:05
  Resistance levels: 1.4950/1.5000/1.5100
  Support levels: 1.4820/1.4770/1.4720
  EUR/USD has fallen further below 1.4850 our next down suggestion over the last trding sessions Today focus will be on US Trade Balance numbers at 12:30 GMT . On downside, the bias remains bearish in longer term with long term target near 1.4770 In short term, better than expected data from USA may cause retest of 1.4820 daily lows On the other side, first minor Resistance comes at 1.4900 Above causes test of 1.4850 stronger one in near term In longer term , a break above 1.4950 is needed for recovery to 1.5100 over the next trading days
• Strategy-neutral.
• 
  FXDREAM GBP/USD
  Date: Tue, 12 August 2008 07:30:04
  Resistance levels: 1.9050/1.9100/1.9220
  Support levels: 1.8970/1.8900/1.8830
  GBP/USD has fallen further heavily directly below 1.9030 our down target over the last trading sessions Today focus will be on UK Consumer Price index at 08:30 GMT The consenus ( m/m) is at -0.2% If the number comes out at 0.0% or higher , recovery to 1.9100 may be seen after the event later today On downside, the bias remains bearish and if the number comes out at -0.4% or lower, further downmove to 1.8900 later today and even 1.8830 in mid term may be seen First Support stands near 1.8970 daily bottom
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Tue, 12 August 2008 07:30:03
  Resistance levels: 110.40/111.00/111.70
  Support levels: 109.60/109.00/108.30
  USD/JPY has retested 110.30-40 previous high area , turning back into the ranged between 109.60 first important Support and 110.10 Resistance earlier today No change in our view. On the upside, in longer term the uptrend remains intact for test of 111.70 previous gap level First important Resistance comes near 110.10 again . On downside, first important Support comes at 109.65-60 area Below causes pullback down towards 109.00 later today and 108.40-30 area in longer term
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Tue, 12 August 2008 07:30:02
  Resistance levels: 1.0900/1.0930/1.1000
  Support levels: 1.0840/1.0760/1.0700
  USD/CHF has risen beyond 1.0900 our next up target over the last trading sessions on the break above 1.0840 previous Resistance exactly as it was suggested in our previous reports On downside , below 1.0840 previous Resistance eases price down to 1.0760 over today and tomorrow On the upside, a break above 1.0900 first minor Resistance again confirms further rally towards 1.1000 and 1.1100 in longer term
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Tue, 12 August 2008 07:30:01
  Resistance levels: 164.00/164.50/165.50
  Support levels: 163.20/162.60/162.30
  The Cross has turned back below 163.60 our down suggestion over the last trading sessions No change in our view. On downside, the bias remains bearish in longer term for test of 162.30 next down target as long as price holds below 164.50 first important Reistance First Support comes at 163.20 Below eases price further to 162.60 later today. On the upside, a break above 164.50 again recovers price to 165.50 yesterday highs First minor Resistance comes near 164.00
• Strategy-neutral.

Published on  Tue, Aug 12 2008, 07:53 GMT